Greenberg Gibbons and Klein Enterprises Form Joint Venture To Develop Self-Storage Facility at Reisterstown Shopping Center

Owings Mills, Md. (May 4, 2023) — Greenberg Gibbons announced today that it has formed a joint venture with Klein Enterprises to develop a self-storage facility, Extra Space Storage, at Reisterstown Shopping Center in Reisterstown, Md. The new 99,500-square-foot facility will be located adjacent to Big Lots and is anticipated to open spring 2024.

“We’re excited to partner with the Klein team on this opportunity, which will further diversify our development portfolio,” said Eric Walter, President of Greenberg Gibbons. “Extra Space Storage is an excellent addition to Reisterstown Shopping Center, further enhancing it as a one-stop-destination that meets the daily shopping needs and conveniences of the local community.”

Extra Space Storage is the second-largest operator of self-storage facilities in the country, and will handle day-to-day management of the location. The new facility will be LEED Silver certified and feature solar panels on the roof as a source of renewable, clean energy. As the owner and manager of the Reisterstown Shopping Center, Greenberg Gibbons will lead the development efforts, and Klein Enterprises will handle asset management.

“As Klein Enterprises continues to evolve, we maintain a focus on the core values that underlie our decades of success – namely cultivating strong relationships with world class partners like Greenberg Gibbons,” said Daniel Klein, president of Klein Enterprises. “Our experience in the development and asset management of self-storage properties makes this partnership with Greenberg Gibbons a natural fit.”

Located on Reisterstown Road and accessible from nearby I-795 and Route 140, Reisterstown Shopping Center currently features a mix of national and regional stores and restaurants including Lidl, Big Lots, Walgreens, Planet Fitness, Starbucks, Chick-fil-A, Bank of America, Wells Fargo, and Dollar Tree. Since acquiring the center, Greenberg Gibbons has invested $9 million in upgrades and attracted a variety of premier tenants new to the market.

About Greenberg Gibbons
Celebrating more than 50 years of success, Greenberg Gibbons is one of the East Coast’s premier developers, investors, and owners of mixed-use, retail, and flex/R&D properties. The company has developed and managed a portfolio of more than 10.6 million square feet of properties. Its signature projects include the award-winning Hunt Valley Towne Centre, Annapolis Towne Centre, Waugh Chapel Towne Centre, Foundry Row, and Towson Row. For more information, visit www.ggcommercial.com.

About Klein Enterprises
Klein Enterprises is a 75-year-old, fourth-generation company with nearly 60 assets comprised of over 3.5 million square feet of commercial properties and over 3,000 Class A multifamily units. Klein Enterprises, based in Baltimore, is actively expanding its portfolio and benefits from decades of expertise in acquisitions, development, management and leasing. For more information on Klein Enterprises’ portfolio holdings and investment strategy, please visit www.kleinenterprises.com.